UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Integrated Security Systems, Inc.
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(Name of Issuer)
Common Stock
_____________________________________________________________________________
(Title of Class of Securities)
45812J101
__________________________
(CUSIP Number)
13G
CUSIP No. 45812J101
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1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO.
Renaissance Capital Growth and Income Fund III, Inc. 75-2533518
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
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5. SOLE VOTING POWER
5,561,795 shares
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6. SHARED VOTING POWER
None
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7. SOLE DISPOSITIVE POWER
5,561,795 shares
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8. SHARED DISPOSITIVE POWER
None
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,561,795 shares
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not applicable
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
38.40%
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12. TYPE OF REPORTING PERSON
IV
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ITEM 1.
(a) Name of Issuer.
Integrated Security Systems, Inc. ("Company")
(b) Address of Issuer's principal Executive Offices
8200 Springwood Drive, Suite 230
Irving, TX 75063
ITEM 2.
(a) Name of Person Filing
Renaissance Capital Growth and Income Fund III, Inc. ("Filer")
(b) Address of principal Business Office or, if none, Residence
8080 North Central Expwy., Suite 210, LB 59
Dallas, TX 75206-1857
(c) Citizenship
Texas
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
75966V105
ITEM 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) ______ Broker or Dealer registered under Section 15 of the Act
(b) ______ Bank as defined in section 3(a)(6) of the Act
(c) ______ Insurance Company as defined in section 3(a)(19) of the Act
(d) X Investment Company registered under section 8 of the Investment
______ Company Act
(e) ______ Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) ______ Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see section 240.13d-1(b)(1)(ii)(F)
(g) ______ Parent Holding Company, in accordance with section 240.13d-1(b)
(ii)(G)(Note: See Item 7)
(h) ______ Group, in accordance with section 240.13d-1(b)(1)(ii)(H)
ITEM 4. Ownership.
(a) Amount Beneficially Owned:
At June 1, 1999, Renaissance Capital Growth & Income Fund III, Inc.
owned a $2,084,101 9% Convertible Debenture due December 1, 2003,
convertible at $0.549 per share; 393,259 shares of the Company's common
stock; $575,000 in 9% Convertible Promissory Notes due on demand,
convertible at $0.549 per share; a warrant to purchase 12,500 shares of
the Company's common stock on or before November 17, 2002; a warrant to
purchase 187,500 shares of the Company's common stock on or before
October 1, 2003; a warrant to purchase 125,000 shares of the Company's
common stock on or before October 2, 2003; and a warrant to purchase
364,299 shares of the Company's common stock. On May 31, 1999 $200,000
in principal payments were made on the 9% Convertible Promissory Notes,
leaving $375,000 in 9% Promissory Notes remaining. All positions are
convertible within sixty days. Thus, the Filer owns 5,561,795 shares
of the Company's common stock on a fully converted basis.
(b) Percent of Class 38.40%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 5,561,795 shares
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of:
5,561,795 shares
(iv) shared power to dispose or to direct the disposition of: None
ITEM 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following:
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
ITEM 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not applicable.
ITEM 8. Identification and Classification of Members of the Group.
Not applicable.
ITEM 9. Notice of Dissolution of Group.
Not applicable.
ITEM 10. Certification.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: September 10, 1999 /S/
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Signature
Russell Cleveland, President and CEO
Renaissance Capital Growth and Income Fund III, Inc.
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Name and Title
